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Tangerine

Tangerine - 1.84% Posted Mortgage rate - 5Y Fixed, Uninsured for New or Moved mortgages

Member
Nov 21, 2007
405 posts
459 upvotes
Peterborough
So Tangerine told me they don't do pre-approvals? How am I supposed to use them when shopping for a house?
Member
Feb 15, 2018
249 posts
160 upvotes
kiddking wrote: we are kind of similar.though I have about one and half year left on my previous 5 years and 400k mortgage. Im shopping for a house rn and he cibc specialist only offers me 1.84 posted rate.

cureently pays 2.3% and not sure if switching to a different back and getting a cheaper rate would worth the penalty of breaking contract. (7k penalty)

Not even close. To break even you need a rate around 1.13%.
Member
Jan 22, 2013
266 posts
145 upvotes
Vancouver
could someone please PM contact info for a TD rep.

I have just signed on for a mortgage with TD this week with the help of my broker but at 1.89. Not sure if it’s too late?
Deal Fanatic
Dec 11, 2003
8377 posts
901 upvotes
THEAVS wrote: So Tangerine told me they don't do pre-approvals? How am I supposed to use them when shopping for a house?
You get pre-approval from a big bank first, then you buy house, then apply mortgage from a better lender. Only fall back to the original lender if required...
October 2015 for sale, PM for details!
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Jr. Member
Jun 4, 2019
103 posts
63 upvotes
Anyone know what there rate is on a rental property?
Member
Sep 14, 2014
341 posts
226 upvotes
Barrie, ON
I don't think Tangerine touches rentals, but Scotia offers a solid 2 right now. It might have dropped in the last couple of days, but that's what my broker is working with rn for a PITA rental.
Member
Oct 15, 2006
330 posts
144 upvotes
Markham
Just started my mortgage with Tangerine. 1.65% 5yr variable uninsured.
Member
Dec 6, 2016
222 posts
107 upvotes
Calgary, AB
J-StarR wrote: Just started my mortgage with Tangerine. 1.65% 5yr variable uninsured.
How did you get that rate? Their posted 5 yr variable rate is 1.70.
Member
Oct 15, 2006
330 posts
144 upvotes
Markham
Karebear77 wrote: How did you get that rate? Their posted 5 yr variable rate is 1.70.
I filled out their application and when they came back to me with that market rate I told them that my mortgage broker was offering the lower rates. They countered with 1.65.
Sr. Member
Nov 28, 2019
624 posts
286 upvotes
THEAVS wrote: So Tangerine told me they don't do pre-approvals? How am I supposed to use them when shopping for a house?
elty wrote: You get pre-approval from a big bank first, then you buy house, then apply mortgage from a better lender. Only fall back to the original lender if required...
That is lame they don't do pre approval, at least to lock in the rate. I do find pre approval kinda useless as I been approved in the past and then when I went to get my mortgage (like half what I was approved for) then it became a big issue as I was self employeed at that time.

How would you do that though, usually you get like 1 week for subject removal and a person I know talked to them and said it would take them 3 weeks to get approval or not. So would you go with the bank and get approved with them in subject week and then apply to tangerine and see if you get approved if you get approved ditch the other one?

Though I thought once approved and you sign it's a done deal.
Deal Addict
Apr 13, 2006
1122 posts
219 upvotes
Mississauga
J-StarR wrote: Just started my mortgage with Tangerine. 1.65% 5yr variable uninsured.
With CIBC offering a 4-year fixed at 1.49%, any reason you've decided to not lock it in?
Member
Oct 15, 2006
330 posts
144 upvotes
Markham
kiz5 wrote: With CIBC offering a 4-year fixed at 1.49%, any reason you've decided to not lock it in?
Two reasons:
1) I think rates will drop further
2) For personal reasons we want to stay flexible in case we do need to break the mortgage then the penalty is only 3 months worth of interest

Oh and also CIBC rate wasn't available at the time... I literally just closed on the house today lol 1.49 is an amazing rate and it would've been a good alternative
Newbie
User avatar
Sep 26, 2018
36 posts
8 upvotes
Toronto
They definitely have room to beat Tangirine, I was offered 1.7% 5 year fix this week. Keep pushing, they will offer u 1.7% or better Smiling Face With Open Mouth
Jr. Member
User avatar
Apr 27, 2016
109 posts
331 upvotes
Toronto
You can try and ask Tangerine to match that offer (it worked in my case):
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